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Exxon Produces Profit Summary

Exxon Mobile, a leading gasoline company has posted their earnings for the quarter, which was round $11 Billion. In anticipation of a public outcry at their profit, while most people are paying well near four dollars or more for a gallon of gasoline, the company took a defensive strategy. This strategy was basically the company apologizing for making this much profit. What exactly was this supposed to help? 

Exxon must have been thinking that this would help people to accept their profits and not question the high cost of gasoline as being the reason that the company was making so much profit. They did point out that they do not have any control over what they charge for a gallon of gasoline, and that they do not make as much of their profit from oil as people think that they do. All of this was an attempt to no longer look like the bad guy in the fight for lower oil prices. 

However, did this do the trick for the company in the eyes of the consumers? Most are unhappy that they are paying so much for gas that continues to steadily rise, while they are not getting any pay increases. It is a horrible predicament to be in when the person has to choose between having gas for their vehicle or their prescription medication. However, it is one that the majority of people are having to face. Though, Exxon was trying to make sure that they do not appear as though they are uncaring or that they are trying to make a profit on a poor economy, most consumers are still angry with the big oil companies, and Exxon is one of these companies. 

With the release of their profits, many government officials are pushing that the special taxes that these companies pay should be removed. And more people are agreeing, with these oil companies earning such big profits, the main debate is why they should get special taxes?